ADB seemingly slow on economic numbers but their research confirming decline in Tongan economy be it few years back! Love their ending words in this report page on assistance given IED overall assessment: Successful. but as usual in the eye of the beholder! Projected government revenue for FY2010 was down by 18.6%, with a projected fiscal deficit of 10.3% of gross domestic product (GDP), and GDP growth down to 0.4%. Remittances, which historically accounted for around 30% of GDP, had declined by 17% placing pressure on the informal social safety nets—this might have been critical with a deep cut in budgets. adb.org/documents/tonga-economic-support-program
Posted on: Tue, 23 Sep 2014 21:17:22 +0000
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